Research from an employee benefits and human resources consulting firm indicates only 4 percent of employers believe their workers will have saved enough when they retire, Property Casualty 360 reports.
Researchers surveyed more than 500 employers in October 2011, according to the source. About 10 percent of plan sponsors reported confidence that employees would take accountability for their own retirement, with 18 percent of respondents saying their employees would be capable of managing their income during retirement.
Employers, the researchers noted, are becoming increasingly aware of the difficulties their workers are experiencing while attempting to prepare for retirement. While the survey results indicate most feel they are having little impact on their employees' retirement circumstances, the source notes, many are attempting to take new measures.
These steps may include employee benefit services such as better education about available benefits, which 60 percent of employers are pursuing. About 44 percent of respondents listed helping employees save enough for retirement as a top priority, and 52 percent indicated they are working to encourage employees to plan for a financially stable retirement.
